Latest Market Intelligence on Global Capital Market Infrastructures

May, 2011

Thomas Murray - Monthly Newsletter

As a local market infrastructure entity or interested participant, Thomas Murray is pleased to send you our May newsletter. This newsletter provides access to the top stories we reported on as part of our on-going surveillance of local capital markets worldwide. We currently track over 100 securities markets, 150 Central Securities Depositories and have Capital Market Infrastructure Risk Rating Reports on over 90 markets worldwide, assessing the post trade risk exposures faced by international investors.

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Top Stories

Australia, Singapore - Australian Treasurer Rejects ASX-SGX Merger Proposal

The Australian Treasurer has rejected the proposed SGX-ASX merger proposal. Accordingly, SGX and ASX agreed to terminate the Merger Implementation Agreement entered into on 25 October 2010. However, both exchanges will...

Canada - CDS to Introduce Real-time Continuous Net Settlement

The CDS Clearing and Depository Services Inc. (CDS) is working on developing a real-time Continuous Net Settlement (CNS), subject to regulatory approvals. As a result, the existing intraday CNS cycles run in four batches will be...

Italy - New Collateral Management System at Monte Titoli

Monte Titoli and the Bank of Italy have recently presented to the market a new collateral management platform, X-COM. The main features of the new system are as follows: Auto-substitution and recall management, optimised collateral allocation...

Ukraine - Creation of a CSD in Ukraine - Update

It has now emerged that the International Monetary Fund (IMF), the World Bank (WB) and the USA Agency for International Development (USAID) have expressed their concerns about the management of the Ukrainian Government...

United Arab Emirates - New DVP Model to Be Introduced at DFM and ADX

In an update to our previous newsflash, the Delivery Versus Payment (DVP) mechanism as proposed by the Dubai Financial Market (DFM) was approved by the Securities and Commodities Authority (SCA) in UAE...

Total Number of Thomas Murray Flashes Issued: April 2011

Depository/CSD Risk Flashes: 58 (891 year on year)
Capital Market Infrastructure Risk Flashes: 58 (914 year on year)

Worth Knowing

Depository Risk Flashes

Global - Formation of World Forum of CSDs

Indonesia - BI to Implement Longer Lock-up Period for SBI

Oman - MCD Plan to Implement a New Settlement System

Russia - CBR Proposes New Requirements for Future CSD

Slovenia - Amended Regulations on Settlement of LjSE Trades

Uruguay - Central Bank to Develop a CSD for All Securities

Capital Market Infrastructure Risk Rating Flashes

Egypt - Extended Settlement Cycle For GDRs

Hungary - Government Bonds to Be Traded on EuroMTS

Kazakhstan - KASE to Implement Fully Pre-funded Settlement System on T+0 Cycle

Kenya - Implementation of Cheque Truncation System

Malaysia - SC Releases Capital Market Masterplan 2

Mexico - Banxico Extends SPEI's Cut-off Time

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For further information contact:

Derek Duggan, Director, Data Services
Tel: +44 (0)20 8600 2300
Email: dduggan@thomasmurray.com